The ai Corporation Approved as Electronic Money Institution

The ai Corporation (ai) and its suite of payment solutions, including machine learning risk management tools, have been granted an e-money licence by the UK Financial Conduct Authority (FCA). The ai Corporation received formal approval for its e-money licence application from the FCA earlier this month, which will enable it to provide fully FCA compliant financial services. The licence means that ai is now regulated as an Electronic Money Institution (EMI), a change from its previous status as an authorised payments institution. The change is effective from 1 July 2017.

 

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